Corona and oil will cause fiscal deficits in most Gulf countries in 2021
Dinar Daily :: DINAR/IRAQ -- NEWS -- GURUS and DISCUSSIONS :: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS
Page 1 of 1
Corona and oil will cause fiscal deficits in most Gulf countries in 2021
Corona and oil will cause fiscal deficits in most Gulf countries in 2021
04/27/2021

04/27/2021

Information / follow-up.
Credit rating agency Fitch said that the spillover effect of the Covid-19 pandemic and the sharp drop in oil prices last year will lead to deficits for most Gulf governments.
Countries in the region are expected to witness an improvement in their financial conditions thanks to the recovery of oil prices and the easing of production restrictions, but the deficit will remain large, especially in Kuwait and Bahrain. "We expect only Abu Dhabi and Qatar to achieve fiscal surpluses," Fitch said in a report.
Fitch expects Brent to average $ 58 this year, but its long-term forecast is at $ 53.
Fitch's estimates indicated that Bahrain needs a price of about $ 100 a barrel to achieve a balance in the 2021-2022 budget, Kuwait needs more than $ 80, and Saudi Arabia and Oman need about $ 70.
Brent is trading at around $ 66 today.
In addition to oil revenues, the Coronavirus continues to put pressure on the coffers of the Gulf states, and some countries have re-imposed restrictions on economic activity.
"A new wave of infections continues to hamper growth in income from abroad, public finances, employment and domestic product," Fitch said.
The agency expects Abu Dhabi to record a 1.1% fiscal surplus, and Qatar to record 2.4% of GDP. While I expected Saudi Arabia, the largest economy in the Gulf, to have a deficit of 5.3% ..
End / 25S
claud39- VIP NewsHound
- Posts : 18367
Join date : 2018-11-04

» Electricity: Our equipment will be 20,000 MW in the summer
» The Washington Post: Iraq's reserves could fall to $ 43 billion .. fiscal deficits on the rise
» The Financial Committee discusses its report on the Fiscal Deficit Financing Law
» Al-Kazemi’s advisor: The oil price surplus will end the fiscal deficit for the 2021 budgetموازنة
» The Council of Ministers resumes its session to discuss the budget law for the fiscal year 2021
» The Washington Post: Iraq's reserves could fall to $ 43 billion .. fiscal deficits on the rise
» The Financial Committee discusses its report on the Fiscal Deficit Financing Law
» Al-Kazemi’s advisor: The oil price surplus will end the fiscal deficit for the 2021 budgetموازنة
» The Council of Ministers resumes its session to discuss the budget law for the fiscal year 2021
Dinar Daily :: DINAR/IRAQ -- NEWS -- GURUS and DISCUSSIONS :: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
» Textbook Tony
» Angela Hitler gathers lieutenants in Germany to mourn loss of Fourth Reich
» 10 years of the new notes came out!
» The Association of Brokerage Companies: Changing the dollar exchange rate contributed to raising the value of Iraqi shares
» Iran: Exports to Iraq amounted to $9.5 billion
» Al-Hakim calls for choosing the next prime minister within specific criteria
» What does Iraq look in a post-Sadr era?
» Sadrist leading figure to the Coordination Framework: the fire you made will burn everyone
» Iraqi parliament swears in new members to replace Sadrists
» USD/IQD closes slightly lower in Baghdad
» Norway offers US$ 7.5 million to Iraq
» Asia's thirst for cheap Russian oil hits Opec's No 2 producer Iraq
» Iraq’s exposure to US securities was up to about $28 billion in April
» The Central Bank: We have taken effective measures to protect the banking sector and combat money laundering
» Al Qirtas Islamic Bank - The first use of modern systems from DN SeriesTM ATMs in Iraq
» The Central Bank of Iraq: We launched 17 trillion dinars of development initiatives
» Central: The Letter of Guarantee platform issued more than 30,000 letters, worth 9.3 trillion
» The Governor of the Central Bank discusses obstacles to the work of Islamic banks with the International Rating Agency
» The Central Bank of Iraq decides to sell the dollar to pilgrims at the official exchange rate
» The central bank is moving at a steady pace to support and revitalize the economy
» The central electronic platform for letters of guarantee enhances confidence in banking transactions
» Who's on First?
» Frank26 says - From black list removal to high credit ratings for Iraq. This is how you get a new exchange rate
» Becky McGee/Oootah - "Wanted: Attorney and/or Lawyer!" 3/10/19
» Meta 1 Coin Has Crack Team Of Lawyers? Why Is Dave Schmidt Still Rotting In Jail?
» California pot shops prepare for their first day of legal recreational marijuana sales TODAY
» One Crazy Guy
» CBI sells $1+ billion in forex for second week in a row
» Iraq and the World Bank hold a workshop to develop public debt management
» Combating financial crimes enhances confidence in the banking sector
» Forex-US dollar notches in Baghdad
» USD/IQD closes lower in Baghdad
» What Happens when Cancer is treated with Cannabis? VIDEO
» VIDEO: Viral Hydroxychloroquine Doctor Demands Joe Biden Apologize After Media Finally Acknowledges HCQ Works
» USD/IQD closes slightly higher in Baghdad
» CBI sold +3$ billion in forex in May
» Finance agrees with the World Bank to help Iraq by activating the General Authority for Taxes
» Central Bank Governor: The Iraqi banking sector is witnessing development and openness to the outside
» The Central Bank prevents Visa and Master card holders from giving them to any party